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Hyundai wins $160mln port deal in Kuwait

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SEOUL : Kuwait has awarded South Korea’s Hyundai Engineering & Construction a contract for the development of seven port berths at a cost of around 48.7 million Kuwaiti dinars ($160 million), a newspaper in the Gulf country reported .

The Kuwait Ports Authority (KPA) awarded the contract for the “rehabilitation and development” of the berths at Mina Al-Shuwaikh in the capital Kuwait City, the Arabic language daily Alanba said, quoting official sources.

It is one of 12 large projects approved by KPA to expand the OPEC member’s ports to face a projected port business upturn, the paper said.

KPA has also awarded two other contracts for infrastructure and power works at Shuaiba Port in South Kuwait with a combined value of about 19.2 million dinars ($63 million), the report added with providing further details.

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